• Wed. Feb 28th, 2024

US rice rush: NRIs panic as India bans exports, stockpiles rice TOI Original

US rice rush: NRIs panic as India bans exports, stockpiles rice TOI Original
July 24, 2023, 03:01PM ISTSource: TOI.in

“Indians in the US and Canada are facing backlash over India’s recent decision to ban rice exports. The ban on non-basmati rice has caused widespread panic among NRIs, leading to long queues outside grocery stores. In the frenzy, people are seen getting into dozens of cars with bags and racks of heavy bags. .5% increase. Panic-buying started after India imposed sanctions to control domestic inflation, due to the failure of a 20% export duty on rice. As a global exporter, India exported 4% of the world’s largest exporter. Rice prices from other Asian countries rose on the global market. In addition, global grain supplies have already been affected by the conflict in Ukraine and Russia’s withdrawal from the Black Sea rice initiative. A shopping spree has begun in major US cities. To manage the situation, some shops have imposed sales limits, restricting customers to buying only one sack of rice.

Leave a Reply

Your email address will not be published. Required fields are marked *